Just 21% of brokers concerned about growing long-term fixed rate popularity

Industry News | 09/07/19

Just 21% of advisers think that the growing popularity of longer term fixed rate mortgages will have a negative impact on their business volumes, according to the latest survey from Insights, Barcadia Media’s independent market research portal. Advisers at last week’s Financial Reporter Buy-to-Let Roadshow were asked about their business prospects, including what changes they were planning to implement to combat the rise of longer term fixed rates.

A recent study by IMLA suggested that broker cases are down by 10%, and there is a growing conversation about how brokers will adapt to a new earning capacity due to longer terms on fixed rate products. Almost half of respondents (47%) said the changing trends would have no impact on business, and the remaining 32% said it would actually have a positive effect.

Source: Financial Reporter